| Category | Assignment | Subject | Management |
|---|---|---|---|
| University | Regent College London | Module Title | MBA7060 Financial Management and Decision Making |
Business operations are expanding beyond organisations normally operational grounds. This ever-increasing globalisation has meant that although businesses can access more customers all over the world, however, the need to manage costs and price product appropriately, develop a fitting budgeting system and understand in more detail the international regulatory and accounting requirements have never been so important.
Primrose Ltd is a UK-based retail organisation. The directors believe that there is a need to develop a new costing and product pricing system to reduce costs and maximise shareholders wealth. They are also seeking to develop better budgeting systems and have a clear and better understanding of requirement of international accounting principles.
As the financial director of the organisation, the CEO has asked you to write a report to advise Primrose Ltd on the best costing and pricing technique, a new and better budgeting system, and their obligations on the international regulatory and legal standards in accounting.
Using data provided by the organisation, you are to produce a marginal and absorption costing profit statement, a cash budget in Microsoft Excel and use the results to advise and suggest improvements for Primrose Ltd.
In your report, you are required to, among other things, cover the following:
1. Introduction: What the report is about and parameters to be covered in the report including the definitions of costs, budgeting, and regulatory and legal framework in accounting
2. Evaluate the need for the classification of cost in Primrose.
3. Using Excel spreadsheet, produce Profit statements using both the marginal and absorption costing technique for the organisation. (An additional excel case study information is provided for this
4. Evaluate the main differences between marginal and absorption costing systems and why profit figures are different in absorption and marginal costing techniques.
5. Using Excel spreadsheets, prepare a cash budget. (An additional excel case study information is provided for this
6. Critically evaluate the benefit and problems associated with budgeting.
7. Suggest ways to improve cashflows in budget preparations.
8. Examine the relevant international financial accounting regulatory bodies, some of the regulations and legal obligations standards, accounting principles they set and how these affects financial reporting in Primrose.
9. Reflecting on your report, evaluate how your understanding of international regulatory and legal framework in financial accounting, budgeting, as well as costing techniques has helped your professional development.
10. References (in-text and bibliography), and Presentation
11. Appendix
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